BJP legislator Ashish Shelar on Friday demanded in the Maharashtra assembly that the police probe into the death of Nitin Desai must also look for the “person” behind Rashesh Shah of Edelweiss Group, one of the lenders of the noted art director's N D Studio.
Nitin Desai. File Photo
BJP legislator Ashish Shelar on Friday demanded in the Maharashtra assembly that the police probe into the death of Nitin Desai must also look for the “person” behind Rashesh Shah of Edelweiss Group, one of the lenders of the noted art director's N D Studio.
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Shelar said the government must investigate if anyone else was trying to buy the debt-hit studio from Shah and if Desai was pressured on behalf of that “customer”. He accused Shah and his company of setting up a “modern-day moneylending” business.
Desai was found hanging on the premises of his studio at Karjat in Raigad district on Wednesday. His company ND Art World Pvt. Ltd. had borrowed Rs 185 crore through two loans from ECL Finance, an arm of the Edelweiss Group, in 2016 and 2018, and troubles with repayments started in January 2020.
The outstanding dues went up to Rs 252 crore including accrued interest by June 2022. The account was transferred to another asset reconstruction company before it got transferred to Edelweiss Asset Reconstruction Company (ARC).
Calling Desai a “Marathi manoos”, Shelar said he had availed a loan through proper legal process but there were attempts to get him into trouble by “misusing” the law.
“Till yesterday (Thursday), I had two more such cases against Rashesh Shah and Edelweiss ARC. But since yesterday, I have a few more cases where both Shah and Edelweiss ARC inappropriately used the legal procedure and set up a modern-day moneylending business,” he said.
The MLA said, “Their purpose needs to be investigated. Also, whether their sole purpose was to try and take over the studio created by a Marathi person must be looked into.”
The government must also look out for the “person behind Rashesh Shah”, he said.
Shelar said the government must investigate all these aspects, asserting that he would pursue the matter “till the end”.
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Shelar on Thursday had said Desai's death must not be investigated only as an accidental death but a special team must be deployed to investigate the interest rate levied, the rate at which this interest escalates every year, and the recovery methods of the lending system by Rashesh Shah and Edelweiss ARC.
"Only then, will justice be done to Nitin Chandrakant Desai," he said.
Edelweiss ARC on Thursday promised full cooperation with authorities investigating Desai's death.
Desai, the creator of lavish sets for films such as “Jodhaa Akbar” and “Lagaan” as well as the popular TV quiz show “Kaun Banega Crorepati”, was found hanging at his studio on Wednesday. Police said it seemed to be a case of suicide and added that the matter was being investigated from all angles.
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